Are you seeking a chance to get the cheapest flight possible? You’re not the only one who does that. We are all trying to find tickets at the lowest price, whether to visit family members abroad or for the next great vacation. We should be thankful for discount providers and the online travel agencies that keep us continually updated about the lowest prices. We can now access a broader range of options and costs and all the other necessary information at our fingertips.
Let’s find out Why Airline Ticket Prices Vary
It is a well-known fact that plane tickets never get cheaper when closer to the departure date. Flights always happen to be the most inexpensive when you book between three weeks and four months before your departure date.
You have to expect rates to increase after that period, according to the CheapAir.com Annual Airfare Study. However, there might be some compounding factors that may affect this guess. For example, holidays and seasonal changes can have an impact on pricing at different times. Here you can take a look at how airline prices move, according to the recent study.
The information about the Volatility of Airfare Prices
Every year, CheapAir.com company which publishes discount airfare also analyzes millions of ticket prices and flights. In the CheapAir.com study, in 8,000 markets, the company checked on fares for more than 918 million flights. The results showed that volatility is the main reason in terms of the prices of flights.
The company found out that the ticket prices vary according to the amount of time between the flight and the purchase. Also, seasonality affects aviation. However, the day of the week is a myth, and it does not affect the price.
Six important Booking Zones
CheapAir.com has identified six booking zones after its extensive analysis. This analysis is about airfares that show the number of days before departure and what to expect during this period.
First Dibs – 202-313 days in advance
You will pay around $55 more during this period if you don’t wait to get the lowest airfare. The positive thing during this period is that you will have more choices in terms of itinerary and seating.
Peace of Mind -115-203 days in advance
Tickets cost around $25 more during this period if you don’t wait for the lowest airfare. Still, in this period, there are plenty of options for flights and seats.
Prime Booking Window – 22-116 days in advance
The average of Airfares within 6% are of their lowest prices during this period. It is the ideal time to book your flights.
Push the Luck – 15-22 days in advance
Fares often increase during this time. The most convenient flight options are already sold out by this time, and the best seat options are taken. But you might be lucky and find some tickets with lower prices during this period.
Playing with Fire – 8-14 days in advance
On average, the pricing during this period is $136 lower than in the case if you waited until the last minute to buy tickets. But still, it’s not the ideal time to buy the ticket. Flights and seat choices are also very limited during this time.
Hail Mary – 1-5 days in advance
If it is not urgent, you should avoid booking flights during this time. At this time, you have to pay an average of $225 more than if you had booked during the prime booking period.
Seasonal Considerations and the coronavirus
For the fall, you can wait a little bit longer to book a flight. It is better to buy 70 days in advance.
For winter, the prices are usually high because of Christmas and The New Year, and you should buy your tickets several months in advance. For the spring holidays, you should also take action some months in advance and the summertime. However, in the time of coronavirus, everything is messed up. So it is up to you to take smart actions and calculate before booking a flight.